EU Emission Trading: Starting with Carbon Dioxide

Morten Vesterdal and Gert Svendsen
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Morten Vesterdal: Analyst, Atel Trading, Switzerland

Energy & Environment, 2003, vol. 14, issue 4, 397-406

Abstract: The Commission of the European Union wants to start a limited emission trading scheme by 2005 within the Community to enable “learning-by-doing†prior to the Kyoto Protocol. This is to accomplish the desired 8% target level for six different greenhouse gases. However, in the EU it is not clear whether all the six relevant greenhouse gases or only CO 2 should be traded. What is the simplest and most practicable solution? We argue in favour of the latter option for three main reasons: the possible dominating global warming potential of CO 2 , expected future developments in CO 2 emissions and the fact, that CO 2 is the pollutant most easily monitored.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:sae:engenv:v:14:y:2003:i:4:p:397-406

DOI: 10.1260/095830503322364412

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